Bumhan Fuel Cell is experiencing a significant surge in its stock price, driven by increasing power demand from artificial intelligence (AI) data centers and optimism surrounding South Korean submarine exports.
As of 9 a.m. on September 30, Bumhan Fuel Cell shares rose by 3,450 won (15.07%) to 26,350 won, according to the Korea Exchange.
The company's strong performance is attributed to improved investor sentiment in the domestic fuel cell industry, spurred by the expansion of AI data centers in the United States.
A key catalyst was a 501.4 billion won supply contract for phosphoric acid fuel cell (PAFC) systems signed earlier this month between Doosan Fuel Cell and its U.S. subsidiary, HyAxiom.
Additionally, Bumhan Fuel Cell has been the exclusive supplier of fuel cell modules for the next-generation KSS-III submarines since 2018.
As a result, there are expectations that Bumhan Fuel Cell could benefit from overseas orders for South Korean submarines, including projects in Canada.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.